Digital payments entity Square is reportedly investing resources in designing a Bitcoin (BTC) hardware wallet, with its Head Jack Dorsey and hardware lead Jesse Dorogusker issued confirmation on Twitter. 

Specifically, the pro-Bitcoin tech entrepreneur initially put out hints regarding a Square hardware wallet and custody service in June, but only generated full disclosure on July 9th, confirming that the building process is being carried out. 

A Twitter post from Dorogusker reportedly revealed that Square is looking to amp up the mainstream level of Bitcoin custody, as well as issuing a general description of how the hardware wallet will be made available. 

“We have a lot of questions and issues to reconcile and we’ll start with this product direction: bitcoin first, global distribution, multisig to achieve ‘assisted-self-custody,’ and prioritizing mobile use.”

Per Dorogusker, the next task is reportedly to form “a small, cross-functional team”, with Max Guise – Hardware Security Lead at Square – taking the role of team leader. 

“We will incubate this full-stack of tech, design, product, manufacturing, and supply chain with @templetonthomas & Square’s hardware team to start with a strong foundation.” He additionally stated. 

Dorsey reportedly provided further explanation to the term “assisted-self-custody” surfacing in June, noting that the company is having a goal of offering a method to assist individuals in easily managing a hardware wallet.

“Custody doesn’t have to be all-or-nothing. We can probably simplify custody through ‘assisted self-custody.’ Assisted requires great product design: minimal setup time, relying on existing devices, and end-to-end reliability”. 

Since crypto has reportedly witnessed a major surge, speculation-wise, from new investors during the overall development of the sphere within the last 12 months, the topic of crypto custody is receiving more and more attention.